PPP Loan Data — Fredericksburg Victory Fellowship, Fredericksburg, TX
Fredericksburg Victory Fellowship is a non-profit organization located at 414 E College St in Fredericksburg, Texas that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Security State Bank & Trust
Fredericksburg Victory Fellowship in Fredericksburg, TX received a Paycheck Protection Loan of $25,300 through Security State Bank & Trust, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in October, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Fredericksburg Victory Fellowship's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fredericksburg Victory Fellowship reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Fredericksburg Victory Fellowship in Fredericksburg, TX
414 E College St
Fredericksburg, TX 78624
NAICS code 813110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Fredericksburg
In the Fredericksburg area, 10 businesses in the "Religious Organizations" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 6) and received an average PPP loan of $53,152 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Holy Ghost Lutheran Church
Calvary Pentecostal Church Of Fredericksburg Inc
New Wine Church
Bethany Lutheran Church, Incorporated Of Fredrick
ST. Barnabas Episcopal Church
Zion Lutheran Church
Shadow Of His Wings Christian Fellowship
Church Of The Colored People Of Gillespie County
Industry PPP Comparison Statistics
Nationwide, 123,083 businesses in the "Religious Organizations" industry received a total of $9.27B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 100% higher than Fredericksburg Victory Fellowship's reported 6 employees, and received an average PPP loan of $75,298, 198% higher than this company's loan of $25,300.
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Footnotes & Information
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